VIISAUS participated in COP28 UAE, where our co-founder, Tijani Nwadei, presented the results of our Carbon Market research for the African Union Development Agency-NEPAD: “Towards Sustainability: Examining Africa’s Carbon Market Dynamics.” This research provided a comprehensive analysis of Africa’s carbon market and its potential for promoting sustainable development across the continent.
One of the primary focuses of COP28 UAE, hosted by the United Arab Emirates, was to “radically scale up climate financing” by “delivering on old promises” and “setting the framework” for new finance. Climate financing is a crucial component of the global response to climate change, involving the provision of financial resources to support mitigation and adaptation efforts. This is especially vital for developing countries that are often more vulnerable to the impacts of climate change. The commitment to significantly increase climate financing reflected a recognition of the substantial financial resources needed to address the challenges posed by climate change effectively.
In addition to climate financing, COP28 UAE emphasized fast-tracking the energy transition and reducing emissions before 2030. The European Union, the United States, and the United Arab Emirates advocated for a global agreement at COP28 UAE to triple renewable energy capacity by 2030, underscoring the urgency of transitioning to sustainable energy sources.
